Thanks for your help on the GFCI outlets - good to approach situations with background knowledge.

I just had a call from a tenant regarding the bathroom outlet. He has no use for the shaving outlet which is standard, I believe, and wants to change it to a full outlet that can handle hair dryers, etc. I have to agree with him - it's pretty much a waste of an outlet usually. Are regular...

Can anyone send me the link for the website that provides a rough property appraisal? Thanks, Jess

If you`re hiring someone to clear snow how do you determine the rate? Do you have a form you use for such a contract, or other ongoing work? Thanks

QUOTE (invst4profit @ Sep 11 2010, 05:10 AM) Jess, congratulations. You have obviously take a big step but you obviously are aware there are many challenges ahead. Now that you are a new landlord you will be determining how you will be operating your business not your tenants. With any new...

QUOTE (RCrein @ Sep 10 2010, 05:15 PM) First, congrats! Thanks! Second, It is possible that your tenants aversion to anything but cash payments has more to do with underclared income than distrust of the banking system. Also, I agree with Housingrental that hiring tenants to do maintenance...

QUOTE (MonteDobson @ Sep 10 2010, 11:53 AM) Hi Jess, Quick question regarding financing your 4-plex. We are looking at a bank of 3x4-plexes in a row. Did it fall under the residential or commercial sandbox? That sounds lucrative. I was told that 6 units would be commercial, so this was...

QUOTE (ChrisDavies @ Sep 10 2010, 09:00 AM) FYI, the law says the method of payment must be agreeable to both parties, and cash doesn`t sound agreeable to you. You can refuse it and require a cheque or money order. They can get money orders at Safeway for a couple bucks. Very interesting! I...

QUOTE (MonteDobson @ Sep 9 2010, 07:41 PM) Congrats on the purchase! Thank you! Why not open an account at one the the local banks...problem solved. Or look into direct debit from the tenants accounts with ATB or other banks?? That may be the best solution. I considered it, but since the...

Whew! It`s taken a long time, but I`ve finally purchased a 4-plex, in Innisfail, AB. I plan to manage this property myself and learn the ins and outs and how to handle new situations. My first is that 2 of the tenants do not use cheques; they pay with cash. Unfortunately they live and work...

QUOTE (ChrisDavies @ Jul 28 2010, 06:46 AM) It`s not really high enough to get out of most of the valley cloud that infests kelowna in the winter, but it does clear ~1/3 of it. It`s not a far drive down in to Rutland or even central Kelowna if you`re working in town. I like the area, and it`s...

Thanks, Chris. One thing I`m wondering is if it`s overcast a lot. We were, indeed, looking at Joe Riche as a not-too-distant future home. From the community e-site it appears to be a cozy, small community, but word has come down that there are no schools. Too bad, it appears quite attractive...

Is anyone familiar with the Joe Riche area outside of Kelowna? I don`t seem able even to find the altitude, and am wondering about the climate, housing, community, etc. Does anyone have any information they would be willing to share? Thanks

Congratulations, Jim, and thanks for the encouragement!

I`ve been using: annual rent/investment amount*100 or: annual cash flow/investment amount*100 By investment amount I include only my own investment, not the bank`s. So, for instance, if I put 20% down on a $300 000 house my investment is $60 000. If annual rent is $1800/month * 12 =...